GF
Equity capital markets jobs on the horizon?
4 September 2007
Forget the credit crisis, a rush of listings on Gulf stock exchanges bodes well for equity capital markets jobs in the region.
Figures collated by business information portal Zawya.com, suggest 66 companies are likely to list on the Gulf stock markets in the final six months of 2007 – including Kingdom Holding, DP World and Saudi-based Inmaa Bank.
Ernst & Young, meanwhile, estimates over US$18.3bn (Dh67.2bn) will be raised through 63 IPOs in the Gulf countries during 2007.
So far, however, recruiters say enthusiasm for IPOs has yet to feed through to jobs. "Most of the demand is for private equity and investment bankers," says Russell Adam of search firm Akamai Financial Markets.
If and when the equity capital markets (ECM) jobs materialise, Adam says an ECM banker with five to seven years' experience can expect to command a base salary of US$130k to US$160k, a bonus of between 20% and 30%, plus a housing allowance if relocated by an international bank.
A rival recruiter puts salaries between US$120k and US$170k, plus a similar bonus.
